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French citizens would disagree with you.

Improbable. No citizenry anywhere has ever preferred wage suppression and unemployment to inflation.

In fact, this is the precise reason the anti-democratic right had to come up with the garbage notion of "independent" central banks.

Like every other citizenry they appreciate not beeing robbed by their politicians via inflation.

Inflation takes purchasing power from lazy money and gives it to people who invest their money in real capital with real value.

Why do you want to subsidise lazy money and penalise productive capital?

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Tue Feb 14th, 2012 at 05:28:08 PM EST
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Improbable. No citizenry anywhere has ever preferred wage suppression and unemployment to inflation

Er, not true. I know of one. :-(

by Katrin on Tue Feb 14th, 2012 at 05:32:39 PM EST
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No, they have been offloading the unemployment on the rest of the Eurozone.

If you had 20 % unemployment in Germany (which you would if you had implemented the Hartz idiocy in a floating exchange rate system), no sober German would have supported the inflation first policy.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Tue Feb 14th, 2012 at 05:37:12 PM EST
[ Parent ]

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